Financial Services and Markets Bill – in a Public Bill Committee at 11:00 am on 1 November 2022.
Amendments made: 32, in schedule 12, page 310, line 43, at end insert—
“(2A) Nothing in this Part of this Schedule affects the operation of—
(a) Part 7 of the Companies Act 1989 (financial markets and insolvency);
(b) the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469);
(c) the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979);
(d) the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226).
(2B) The Treasury may by regulations amend sub-paragraph (2A).”
This amendment ensures that certain exclusions apply in relation to the moratorium on proceedings during a write down and provides a power to amend that list of exclusions.
As a bill passes through Parliament, MPs and peers may suggest amendments - or changes - which they believe will improve the quality of the legislation.
Many hundreds of amendments are proposed by members to major bills as they pass through committee stage, report stage and third reading in both Houses of Parliament.
In the end only a handful of amendments will be incorporated into any bill.
The Speaker - or the chairman in the case of standing committees - has the power to select which amendments should be debated.
As a bill passes through Parliament, MPs and peers may suggest amendments - or changes - which they believe will improve the quality of the legislation.
Many hundreds of amendments are proposed by members to major bills as they pass through committee stage, report stage and third reading in both Houses of Parliament.
In the end only a handful of amendments will be incorporated into any bill.
The Speaker - or the chairman in the case of standing committees - has the power to select which amendments should be debated.
